New approved forms for Queensland enduring powers of attorney will come into effect on 30 November 2020 to coincide with changes to the Queensland Powers of Attorney Act 1998. Background.
The current forms should be used until 29 November 2020 and the new forms should be used from 30 November 2020. The new forms are not approved for use before 30 November 2020.
To ensure compliance with the enduring power of attorney requirements under the amended Powers of Attorney Act 1998 financial services providers should ensure that:
- Any Queensland enduring power of attorney to be signed by the principal prior to 30 November 2020 is prepared on the enduring power of attorney – short form (Form 2) version 2 or the enduring power of attorney – long form (Form 3) version 2 (the “old enduring power of attorney forms”); and
- Any Queensland enduring power of attorney to be signed by the principal on or after 30 November 2020 is prepared on the enduring power of attorney – short form (Form 2) version 4 or the enduring power of attorney – long form (Form 3) version 4 (the “new enduring power of attorney forms”).
An enduring power of attorney executed correctly prior to 30 November 2020 using the form that was approved at the time it was made will continue to be valid after 30 November 2020. A principal does not need to make a new enduring power of attorney using the new form, unless they want to change their enduring power of attorney.
From 30 November 2020 an enduring power of attorney on one of the old enduring power of attorney forms that has been signed by the principal on or after 30 November 2020 will not be capable of registration in the Titles Office without the deposit of a declaration of validity from a court of competent jurisdiction.
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Author: David Jacobson
Principal, Bright Corporate Law
About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.